Legal Spend Management Platform Recognized for Enabling the Private Equity Community to More Effectively Deploy Legal Resources and Facilitate Regulatory Compliance
London, UK – September 24, 2021 – Apperio, a provider of legal spend analytics and matter tracking, today announced winning the award for the “Technology: Regulatory & Compliance” category at The Drawdown Awards for 2021. Winners were announced at a ceremony yesterday evening celebrating vendors that “have demonstrated expertise and top-class client services standards” in provisioning technology for the private equity community.
The annual award program is produced by The Drawdown, a London-based publication providing insight and analysis to private equity professionals. Award nominees are judged by a panel of C-Suite representatives from leading private capital funds. Winners are selected based on a mix of “customer and revenue growth, as well as detailing how new initiatives, products or services have aided the business and helped clients.”
“We are delighted to be recognized by The Drawdown Awards for the value we have delivered to our customers,” said Apperio Founder and CEO Nicholas d’Adhemar. “This award is a tribute to the technology and the team behind it – and also to our private equity customers who have partnered with us to solve the pressing challenges in legal spend management.”
The award recognition comes on the heels of significant momentum the company built in the private equity community this year including the following:
- Released new product enhancements. Apperio rolled out a new API, which supports data integration, earned the SOC2 Type 2 certification, and unveiled personalized dashboards – a high-priority request from deal, finance and legal teams in private equity.
- Appointed new board members. The company appointed David Eldridge and Neil MacDougall to its board of directors. Both gentlemen have extensive experience and are widely respected in technology and private capital circles.
- Formed strategic partnerships. Apperio solidified a strategic alliance with Morae Global Corporation, a leader in providing law firms, legal departments, and compliance executives with outstanding solutions for digital and legal business transformation.
- Produced educational events for legal and private capital. The company launched the Apperio Legal Expo (ALX), a well-attended virtual event dedicated to internal stakeholders in private funds, such as legal, deal and finance teams, who have an interest in exchanging ideas for efficiently deploying legal resources.
- Published industry-leading research. Apperio published two reports on legal spend management processes and best practices for private equity, which were based on independently commissioned primary research.
The company has also had the good fortune of working with customers to document case studies illustrating how private equity firms are using its legal spend management platform. These range from specialized boutiques seeking to control legal costs ahead of the invoice – to publicly listed global giants that have stringent regulatory and compliance reporting requirements.
“Apperio facilitates a lot of our financial reporting, and being a listed company means we need to report every month on areas such as accrued fees,” said EQT Group Managing Director of Legal Paul Dali in a case study. “We’ve managed to remove a lot of emails by using Apperio for around 90% of these tasks – and that’s far more efficient.”
He also highlighted Apperio’s exceptional customer focus which was reflected in the award recognition:
“Prior to using Apperio, we’d obviously identified an issue in legal spend but never really found a solution,” he added. “We appreciate that Apperio will listen, question our needs and then deliver on promises where it makes sense for our aligned interests. This forms the basis of a great long-term partnership.”
Apperio’s legal spend management software provides legal departments with real-time visibility to help control and optimise their external spend with law firms. Data is gathered automatically, structured consistently and presented simply for analysis to help in-house teams get ahead of the invoice and make informed business decisions.
Apperio’s unique approach of connecting directly with law firms’ practice management systems provides ongoing and historical data at the touch of a button. This provides complete cost certainty on both billed matters and work-in-progress legal fees.
Apperio helps in-house teams to stay in control of their legal spend and build trust with external counsel by offering a collaborative, rather than an adversarial approach to legal spend management.
Frank Strong for Apperio, Ltd. +1 202-352-5920 [email protected]
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for Apperio, Ltd.